Phillips 66 Partners LP (PSXP) Plans Quarterly Dividend of $0.15
Phillips 66 Partners LP (NASDAQ:PSXP) declared a quarterly dividend on Wednesday, October 23rd, American Banking & Market News reports. Stockholders of record on Monday, November 4th will be given a dividend of $0.1548 per share on Wednesday, November 13th. This represents a $0.62 dividend on an annualized basis and a yield of 1.86%.
A number of research firms have recently commented on PSXP. Analysts at Citigroup Inc. initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Wednesday, September 18th. They set a “neutral” rating on the stock. On the ratings front, analysts at Merrill Lynch initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Monday, August 19th. They set a “neutral” rating on the stock. Finally, analysts at Barclays initiated coverage on shares of Phillips 66 Partners LP in a research note to investors on Monday, August 19th. They set an “equal weight” rating and a $34.00 price target on the stock. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $36.00.
Shares of Phillips 66 Partners LP (NASDAQ:PSXP) traded down 0.84% during mid-day trading on Wednesday, hitting $33.00. The stock had a trading volume of 72,317 shares. Phillips 66 Partners LP has a 52 week low of $28.10 and a 52 week high of $35.92. The stock’s 50-day moving average is $31.70 and its 200-day moving average is $31.59. The company has a market cap of $2.324 billion and a price-to-earnings ratio of 47.01.
Phillips 66 Partners LP owns, operates, develops and acquires primarily fee-based crude oil, refined petroleum product and natural gas liquids (NASDAQ:PSXP) pipelines and terminals and other transportation and midstream assets.